Bitcoin falls over 5% as volatility continues after Trump's bitcoin reserve plan

Bitcoin fell on Monday as volatility in the price of the world's largest cryptocurrency continues following an executive order signed by President Donald Trump to create a strategic bitcoin reserve for the United States. Bitcoin was trading at $81,712, down over 5% but off earlier lows, at 9:42 a.m. Singapore time, according to Coin Metrics. The reserve will be funded by coins that have been seized in criminal and civil forfeiture cases and there are no plans for the U.S. government to buy more bitcoin. After the strategic reserve announcement last Thursday, crypto prices declined as investors were disappointed it wasn't a more aggressive program. Other cryptocurrency prices also dropped on Monday. Both ether and XRP were down about 7.5% at around 9:43 a.m. Singapore time. ... Read full article.